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May 5, 2013 8:00pm EDT
partisan positions, and republicans took everlasting credit for it, the deficit widened, and it became almost impossible to reassemble a coalition to undo the damage that had been done or the harm that might have occurred, and we did, you know, have several tax increases to close some of the gaps, but what i learned is when mistakes are made in this big macedonian government we have with the divided powers and checks and balances, it is very dangerous. aat is why the lesson is so propos today, because we have a massive keynesian state, as i call it, dedicated to stimulating and boosting and propping the economy. as a result of that, we have a $1 trillion deficit, both sides are dug in, everybody knows this cannot last. it is dangerous rolling down the road, and yet, the system has a serious inability to make compromises, to find packages that you can assemble a governing majority, so it was 1981limited scope issue in to 1985 when i was there, but at large, the lesson from that time is what the clear and present danger is today. our fiscal process is paralyzed, dysfunctional, broken, an
May 2, 2013 11:30am PDT
are facing a deficit and kate will tell us why that deficit is there, but we begin by saying that we have got $123 million budget deficit for next fiscal year, but the second year is a little larger, about $256 million budget deficit and put it in context. as past parents of this great city, we used to have hundreds and hundreds of more deficits that have to deal with when the economy was bad. now it's recovering. and i have to thank the public, the business groups, the non-profits and everybody that has been sacrificing to help us balance this budget. because it's their sacrifices that got us through these very hard years. so it sounds like 123 and 256 are not great numbers. they are still serious deficits, but i think we have a spirit, where the parents, the legislative body and the executive branch are working closely together to make that gap closer. we have that, and i want to say, the principles that are guiding me in setting this budget, i want a sound economic budget. i want the residents and visitors in this city to feel that they have a safe city to invest in and i want a city that
May 7, 2013 9:30pm PDT
we don't have a deficit. we still have a deficit in the budget. this year coming $123 million, and the second year in the budget covering 2014/15 has $256 million deficit. we are not out of woods. but these numbers are better than $500 million and $700 million budget deficits that we used to have a few years ago. our city is doing better. we are concerned about how to fulfill that deficit. but we are also concerned about what is happening to seniors, what is happening to youth. what is happening to families. our open space. our small businesses. our environment. we are all concerned about that as well. of course i must say about our housing authority as well. so we are taking on a lot of responsibility and because we are and because we are very busy doing the work we are. sometimes we need your input to steer us in the right direction for what things you think are important. so we are open to that. and we want to hear from you tonight. enough speeches. let's get on with it. may i have a couple words from supervisor avalos and farrell. >> thank you. thank you mayor lee, and yes
May 2, 2013 6:00pm PDT
. we do have a structural budget deficit in the city. we need to deal with the short- term balancing of the budget in a way that does not decimate basic city services that people rely on but also to address our long term structural budget deficit. that means implementing budget reforms that will smooth out the budget process so that it is not a boom-bust process. that means reforming our pension and retiree system so that they are stable and do not drain the general fund. that is a big aspect of it. another huge issue is the deferred maintenance on our infrastructure. we have a lot of infrastructure that has been deteriorating because we have not maintained properly. that includes roads, sewer systems, muni. we need to be much more diligent about maintaining our infrastructure. some of the big citywide issues that impact the district include transportation. we had more muni service and some other districts. it is not always reliable. some of the major bus lines in the district are not reliable. we have major projects like the renovation of delores park. it is an opportunity to define
May 6, 2013 10:00pm PDT
pipe hive and so we begin here with this graph the federal budget surplot plus or deficit. obviously it's been some time since we have run anything like a significant budget surplus we went into the recession carrying a farrell substantial deficit and obviously that really ballooned and got much much worse and what we are facing now are really the biggest bulletin deficits that the united states economy has faced since the second world war we are moving in the right direction it's getling smogger and it's still a farrell daunting challenge and this is what was westbound bend the whole fiscal cliff last year and we ended up with an 11th hour deal to avoid the worst of the fiscal live kcliff and i'm not going to read all of the stuff on this slide but basically what we got was tax increases that effect the working poor primarily and the very affluent and not really not much of an impact on the middle class and you can may be have your own political opinions about that but the spending cuts didn't really take much effect at all. the spending cuts are now poised to go into effect march 1
May 8, 2013 1:00am EDT
investments, are how we're going to manage our debt and deficit. it defines not only today, but tomorrow. we can't do that with two people in the room. we need people from both sides coming together to compromise. that is what legislation is all about. >> even folks in this room may be confused about all the budgets out. you have a budget, republicans have a budget and the president has a budget. what are the common grounds between all three? you probably have studied all three, what is the common ground where we can begin the negotiating process? >> that is a really good question. i think, obviously, the house budget and the senate budget and the president's budget are fairly far apart. i think the common thread is we all recognize that the debt and deficit is impacting our country's ability to make sure our economy is on track, that we have -- we know where we're going to go, businesses have certainty, and we need to find a path forward. i think the important part is we are looking for is a balance in solving this issue and making sure that everybody in america participates in helping to s
May 7, 2013 12:00am PDT
because they decided that cutting their budget deficits was more important than creating jobs. when you have a lot of unemployment, that is the worst time to cut your budget deficit, because the government has got to be the spender of last resort. this is something we understood and learned during the 1930's, 1940's. got ther ii actually economy going. i don't want to suggest that we need another war, but that mobilization, that government spending on such a grand scale got us out of the depression and finally into prosperity. ourbudget deficit, in fact budget debt at the end of world war ii was much greater than it is now. but instead of hunkering down and cutting the budget, what we did in the 1950's was invest in our work force, invest in college education, invest in retraining. we created the interstate highway system and invested in the infrastructure. we built the middle class and helped poor people get into the middle class. it is what we are not doing now. tavis: i am frustrated consistently by this pseudo debate in washington. words make a difference and words have meaning, and
May 1, 2013 12:00pm PDT
great district 11 really is. >> we are in our fifth year of major budget deficits. it is inevitable that we will make painful cuts. so how do we do it in a way that will minimize the impact on every day san franciscans? >> i really appreciate what you're doing here. you are a really patient gentleman, and i appreciate that. >> our parks are often cut first. how do we maintain our safety net, public health services, security services? all of these are critical decisions that have to be made. >> i have seen many people come forward today who i know whose lives have changed because of the services we are providing. that is something that we can be proud of and have a as a goal at the budget process to make sure that we can turn lives around and create a liveable communities. >> if we do not resolve the pension issue, we will have to cut. we will see fewer options for muni. we will see the parks deteriorate. i think the tide is rising. we have to figure out how to swim very quickly. >> to address these concerns, i have made a series of amendments to the resolution that capture the spiri
May 2, 2013 6:30pm PDT
the street. overall, our budget, we are in our fifth year of major budget deficits. i have been chair of the budget committee for the past couple of years. i am still involved in budget issues. i want to make sure i can be helpful to my colleagues who are grappling with our huge deficit. it is inevitable that we are going to make painful cuts, so how do we do it in a way that will minimize the impact to every day san franciscans, how can we keep our parks in good conditions? how do we maintain our safety net for public health services, public security services, public safety? all these are critical decision that need to be made. the pension question is something that comes up. the cost of our pension liability will cost the city, especially because of our investments in the market have come down since 2008. we are spending more of our general fund to pay our pension costs. that is a big challenge. it is a long-term problem, but it also has short-term implications. we know right away we are not going to have the enough money as we need to cover our services and pension costs as well. i
May 8, 2013 9:00am EDT
're going to be and who we are, what our investments are, how we are going to miniature debt and deficit. it defined not just today but tomorrow. we can't do that with two people in the room. we need to have people from both sides coming together to compromise. that's what legislation is all about. >> even folks in this room might be confused by all the various budgets. you guys have a budget, the house republicans have a budget and the president has a budget. what's the common ground between all three right now? you have probably studied all of these as well as anybody. what's the common ground where we could begin the negotiating process? >> that's a really good question, and i think obviously the house, senate and the president's budget which is similar to ours are fairly far apart. i think the common thread is that we all recognize that the debt and deficit is impacting our country's ability to really make sure that our economy is on track, that we know what we're going to go, that businesses have certainty and that we need to find a path forward. i think the important part that we a
May 1, 2013 10:00pm PDT
.5 to 4 5.2% so it's his risen but you run out of money if you keep deficit spending up. governments had to ratchet back because they had canessan policies. >> woodruff: you are trying to -- folding europe into the conversation. i was trying to keep them separate. it's not possible, i guess. what about the fact that the spending was out of control before and yes there's been cutbacks but not very much? >> i really wasn't out of control, the biggessingle source of increased deficit wa the recession and let's not forget what caused the recession. it wasn't government spending being out of control it was a financial collapse made on wall street. if you have a financial collapse, the government collects less revenue and spends a little bit more on things like unemployment compensation and food stamps and so the deficit goes up. but it doesn't logically follow that you can get a recovery going by cutting the deficit. the only thing keeping the economy afloat given the weakness of wages and salies a private dand and investment, what is keeping it afloat is deficit spending, public spending. an
May 5, 2013 10:00am PDT
on the bombing in america. what is the easiest way to drive the u.s. deficit down and create jobs? what's a quick and perhaps easy way to drive the u.s. deficit down and create jobs? i will give you a hint. we need to turn illegal in to legal. i'll explain. but first here's my take. those urging america to intervene in syria are sure of one thing. if we had gotten in sooner, things would be better in that war-torn country. had the obama administration gotten involved earlier, there would be less instability and fewer killings. we would not be seen in john mccain's words this week -- >> atrocities on a scale we have not seen in a long, long time. >> in fact, we have seen atrocities much worse than those in syria recently. in iraq, only a few years ago, from 2003 to 2012, despite there being as many as 180,000 american and allied troops in iraq, somewhere between 150,000 and 300,000 iraqi civilians died and about 1.5 million fled the country. jihadi groups flourished throughout iraq and al qaeda had a huge presence there. the u.s. was about as actively engaged in iraq as possible. and yet more terr
May 4, 2013 6:00am EDT
agree the numbers should go up. it raised $600 billion and cut our deficit by another 600 billion dollars. folks, look. if you're coning cut on the middle class, why do they do it? it is hard to believe this but these guys are proposing. in order to provide for these massive tax cuts, that is the only way they can do it. other than ballooning the deficit even more than they already have. that is why they talk about it the way they do. that is why they call for these cuts to the middle class. by the way, they talk a lot about deficits. let me take what gemini congress have done. we have reduced the deficit already by $2.5 trillion. the proposal is to gain another $1.5 trillion. the difference is we do it fair. that will get us to the magic number. every economist to talk to will tell you if you get that to gdp below three percent, that is when things take off. that is exactly what the president's raposo will do. it will get it down to 2.1%. thedo not have to break back of the middle class to have this country grow. the only way you can make it grow is to give it a chance. like you,
May 1, 2013 1:00am EDT
now with the news that the deficit breached is now being delayed. as you know, we thought that was going to occur in july it would provide some forcing function for additional budget negotiations. that has not been swept to the right. it does not appear that what we are living with out into the fall. there are two choices. we could submit another budget, or if we don't, we will have to enter into some negotiation with congress on how to of the door of those cuts. but that decision hasn't been made yet. >> general, there that has been a lot of talk in this town recently about throwing up a no- fly zone. and without reference to any specific country in the middle east, could you talk a little bit about what goes into an operation like that? i think there is a notion around that it is pretty simple and easy, but what i know of it, it may be a little more complicated. could you talk about that? >> well, no-fly zones -- well, actually any military operation tends to be more complicated than generally gets talked about in open sources because there are the things that have to oc
Apr 30, 2013 11:00pm EDT
, >> first of all, it's nice to be here. it is tough for us to talk about the deficit and does these days than it was years ago on ice cover and ronald reagan. they asked president reagan one time if they worried about the size of a huge debt in a set know i figure it's big enough to take care of itself. unfortunately we don't have that luxury today. when i first came to washington we measures candles. and then a member of your institution, powerful chairman result was a tax or it ended up running around with a stripper named fannie fox. he went into the tidal basin. today the scandal is to ken rogoff and carmen rogoff and carmen reinhart cheat on their excel sheet? i really prefer fannie fox. let's start with the rogoff ran her controversy today. what did the premise that the great peril and priority that we all -- that many people expected for five years ago. with exaggerated? and they stay with you, mr. controller. >> the deficit issues she's particularly over the longer-term. after dinner simulations cannot we share the recent actions by the congress and the administration have brough
May 8, 2013 12:00pm EDT
debt and deficit. 17 -- nearly $17 trillion in debt, a debt that goes up over $4 billion every night when we go to sleep. this problem is structural in nature. it -- time alone will not solve this issue. for the last four years in my time in the senate, there's been no issue on which i've spent more time, spent more effort trying to reach out. i understand that many of my colleagues actually try to avoid me in the hallways now because they fear they're going to get a mark warner harangue on the debt and deficit. i also know that the only way we're going to get this issue resolved is if both sides are willing to meet each other in the middle. this is a problem that cannot be solved by continuing to cut back on discretionary spending. it will require, yes, more revenues and it will require entitlement reform. those are issues where unfortunately in many ways our parties have not found agreement. we all have agreed as well at least that while we don't have to solve this whole problem overnight, we do need at least $4 trillion in debt reduction over the next 10 years. the good thing is,
May 6, 2013 7:00pm EDT
years, which means we won't have to import and we actually will be selling stuff, our trade deficit will evaporate. >> a little less than half of our trade deficit comes from energy alone. you won't talk about the knockdown effects in terms of national security and all the rest of it. so this is a big deal. there is no two ways about it. the president, i'm so glad he's moving in this way, to add this to immigration, there is a chance the u.s. could grow out of its fiscal problems, more than any other country in the g-7. >> let me connect the dot, exporting liquid natural gas, not importing oil any more. okay. trade deficit going down, dollar going up. america becomes the place to incest. it's the place to invest. >> you are already seeing this, i think what's being reflected in the stockmarket right now. people are assuming that it's just easy money on the part of the fed that's driving the stockmarket higher. there is no question, that's a big part of it. but i do think the president's comments over the weekend also could be an important part of the story, ewhat is being reflective
May 6, 2013 5:00pm EDT
and the deficit with any tax revenues that come in, whereas, other programs would, i guess, fall by the wayside. and that is the primary problems the democrats have with it. they called this thing called the pay china first act or pay some of our bills act. it would allow the debt and interest on that to be paid so we wouldn't technically default but other programs, social programs, things like that would not be paid. >> how are the fiscal talks between the house leadership and president obama going? >> you know, i'm not sure there is too much communication right now. everyone is in a wait and see mode. this is the first volley and messaging i think from the house republican. it's very unlikely senate democrats would take this bill up but it's possible that we'll go right up to the edge of the debt limit like we have done so often these last two years, but everyone is kind of waiting to see exactly how this will all progress. >> daniel newhauser writes for "c.q. roll call." we thank you for your time. >> thank you. >> the c-span networks will cover a number of congressional hearings this week o
May 3, 2013 6:30pm PDT
, and paris will seriously overstep the eurozone's budget deficit ceiling. >> in france, the recovery is expected to be delayed, which evidently has repercussions on public finance. the french forecast is in our view overly optimistic. a significant effort would be required. >> brussels is to grant paris two extra years to cut its deficit to under 3%. >> let's bring in our correspondent from brussels. from your perch, how does all this look? is europe finally hitting the bottom of this crisis? we have reports that france and the netherlands are both faltering as well. >> no, i think the crisis is nowhere near the end. what these figures do -- they polarized the debate, sharpen the debate between those on one side led by german chancellor angela merkel, who say austerity is the way forward, and those who say we are being squeezed too tight. people will look at these figures and say this is evidence that the commission is applying the squeeze too tightly. we need more room for growth. he said we must do whatever we can to boost employment and to unlock growth. he did not suggest for a m
May 7, 2013 6:30pm PDT
of positive deficit reduction. >> he made the comments while attending a forum here in berlin. the germans find -- with the german finance minister. he said the french government remains committed to reducing its budget deficit but warned that the focus on austerity in the eurozone is preventing economic recovery. germany's ongoing strength amid the eurozone economic crisis has made the country a magnet for citizens elsewhere in the eu and driven immigration to a 17-year high. >> last year, more than 1 million people moved to europe's biggest economy looking for new jobs and opportunities. most of those immigrants came from poland, romania, and bulgaria, but the numbers coming from greece, italy, spain and portugal jumped by 40%. in berlin, controversy has erupted over a german-islam conference. >> the meeting aims to promote intercultural dialogue and promote the integration of muslims, but islamic group and opposition politicians say by putting the main focus on security and the threat of islamist terrorism, the conference is having the opposite effect. >> delegates at the islamic confer
May 8, 2013 7:30am PDT
deficit of 70 million dollars and we know there's a structural deficit of 5 hundred million it just so happens that the tunnelling between washington and north beach will cost about 70 million dollars and if you eliminate that and stop the line where it was originally intended which is chinatown and stockton street you will be able to save the agency 70 million dollars and give all the residents of north beach a second chance on how they want transit to be brought into their neighborhood thank you very much. >> thank you, sir. >> next speaker please? >> good afternoon. >> hi my name is -- thank you for -- when i talk with the families in the community they are happy about this program. i'm often been working in the community in bay view i hear these stories about people having a really hard time trying to go home or trying to go to doctor appointment or any other activities they have to and after the day i was here and heard the stories in the community it happened to me. i finished with my thing and i had to go back home and i had to pickup my kids and i saw the sign in the train sa
May 5, 2013 7:30pm EDT
of the deficit that the federal government has, you know, needs to be met by, you know, investors, regular investors and institutional investors, and you'd be buying that debt. they'd be buying that debt instead of equities and that will keep equities from continuing to climb forward. >> ken and michelle, thanks very much. we'll see you soon. >>> up next, britain's former prime minister, tony blair, on central banks, syria and global growth. >> if you simply offer people austerity, one side and no reform on the other, you're going to have a big problem. >>> and later, what market forces in metals mean for your jewelry box. the ceo of blue nile, online's largest jeweler, will join me. >>> as we take a break, take a look at how the stock market ended the week. back in a moment. no matter what, people can count on me to get the job done. so, when my prostate cancer returned, my doctor told me that this time can be different with provenge, a personalized treatment that lets me count on my own body to fight back. provenge is clinically proven to help extend life in certain men with advanced pro
May 4, 2013 12:30pm PDT
with this budget deficit problem for some time if there is a good side to that, if you can continue to grow an economy, even with a budget deficit, what you are looking at here is gdp but not the way that you are used to looking at it more often than that phot what we talk about d g t we focused on the economy quarter growth range and whether it grew during the quarter this teems you in terms of a absolutely level base basis and reason i'm showing it this way is because for all four quarters of last year the overall economy was better than the it was before the prerecession high water mark and we have turn the quarter into a new expansion and if it didn't feel that way it that is to do with this the none farm payroll and each bar here represents a single month's change in the total number of people who have a job and you add up all of knows jobs that was loss during the recession it's 8.8 million people and we have only created five and-a-half million total job and that leaves us with a deficit of three or so million jobs and we are cranking out more in terms of goods and services but we ar
May 8, 2013 12:00pm PDT
is the most eminent issue, and we do have a structural budget deficit in the city, so we need to deal, of course, with the short-term balancing our budget in a way that does not decimate city services that people rely on, but also to address our long- term structural budget deficit, and that means implementing some budget reforms. smooth out our budget process so it is not a boom/bust kind of budget. reforming our pension system and retiree health care system so that they are stable. we do a decent job providing low-income housing. we do a terrible job providing housing for low or middle class and middle-class people, people who are working and paying taxes that we need to have here for a functioning economy, so i am looking for ways to try to fund that, particularly for essential employees like teachers, nurses, first responders. projects coming up in the city like the renovation of dolores park, which is a once in 50 years opportunity to define what the park is and what changes we want to make to it. that will be a very significant projects. [inaudible] when was the last time it rai
May 6, 2013 3:00pm PDT
on election day voted for a balanced approach to reduce the deficit, which would include some spending cuts but included investments that strengthen the middle class and we've got to take a comprehensive approach to doing this. we cannot keep doing these one-off fixes for those with the most vulnerable being hit by the sequester cuts. >> now, the president, maria, said it very similar. he's called it band-aids, when he was talking about what they did to in-flight delays, he called it a band-aid solution. listen to this. >> congress passed a temporary fix, a band-aid. but these cuts are scheduled to keep falling across other parts of the government that provide vital services for the american people and we can't just keep putting band-aids on every cut. >> so maria, is that what we're going to keep seeing, republicans coming with band-aid solutions. >> band-aid solutions to things that they care about and impact them immediately. but unfortunately they are not staying up at night wondering how meals on wheels and the individual in hospice care get the help they need and kids have a chance to
May 2, 2013 3:00pm EDT
deficit today, and it's really good news it moved under $40 billion to $38.8 billion. but when you looked at the internals, less exports, less imports. i think you walk away with all the information you need, that the global economy is slowing, this isn't going away, and i wish gene was right on all of his measurements regarding the economy. because i am still at a loss how somebody like gene could see all the good in the economy, and yet, we have a federal reserve that refuses to stop crisis management. it just doesn't square. >> well, we haven't mentioned the jobless claims as well. that's, obviously -- >> five-year low? >> lowest since '08 on the jobless claims. is that part of this? >> i think it is part of this. what it tells me is that jobless claims only give you information if they go higher, not lower, because we've seen this movie, and the correlation, actual jobs and actual people working seems to get more ten wouous. >> and the problem is, rick, it frustrates a lot of bears because there's a lot of bad news out there and it hasn't translated to lower prices in the stock market
May 2, 2013 6:00am PDT
insurance companies. another said the bachk is engaged in financing fiscal deficits. on the boj's 2% inflation target. one member noted uncertainties in achieving it in the proposed two year time frame. and here on "newsline," the latest market figures. >>> japanese prime minister shinzo abe has spent his first few months in office working on the economy. now he wants to revise the constitution that marks it's 66th anniversary on friday. japanese are divided over whether the constitution should be changed at all. nhk world's jun has the story. >> reporter: abe and his ruling democratic party have kept their goal in sight since they took power last september. >> translator: it is prime men tir abe's believe that we need to change the constitution for an independent nation state. >> reporter: the constitution was written after world war ii. the u.s.-led alleyed forces controlled it's drafting. the most significant characteristic is pacifism. article nine says the japanese people forever renounce war. it led to japan to maintained armed forces exclue sifly for defense. the liberal demo
May 8, 2013 5:00pm PDT
when deficit reduction goes berserk coming up. >>> and more with our panel coming up. i've been taking a multivitamin for years. centrum silver. both of us actually. our pharmacist recommended it. and that makes me feel pretty good about it. and then i heard about a study looking at multivitamins and the long term health benefits. and what do you know? they used centrum silver in the study. makes me feel even better, that's what i take. sorry, we take. [ male announcer ] centrum. the most recommended. most preferred. most studied. centrum, always your most complete. >>> talking about red flags and domestic violence, domestic abuse in the wake of the shocking revelations out of the kidnapping story in cleveland. and i want to bring into the conversation isha pandit, recently worked with the group men stopping violence. isha, i want to play for you this bit from the infamous, now infamous charles ramsey interview, or numerous interviews. he, of course, the neighbor who was the one when heard screams, cracked the door open, made the 911 call, is being rightly lauded for a tremendous coura
May 8, 2013 3:00pm PDT
is tasked with tackling, among other issues: the sequester; dealing with deficit hawks, mainly in the g.o.p., who think the sequester doesn't cut government enough; the slow pace of financial reform; the euro- slump and, of course, lackluster job and economic growth, which is what brought him to vitamix, to trumpet a success story.รง but what about nearly 12 million americans without a job? four million of them long-term unemployed and that rate hasn't budged since 2011. >> we see a long-term unemployment rate that's too high and it's not okay. it's something that we have to be just vigilant about addressing. we've got to have economic growth creating enough jobs so that we can not just deal with the new entries into the labor force and people who are in jobs changing jobs, but creating enough jobs so that people who've been out of the labor force could get back in. >> reporter: but why don't these people, long-term unemployed, older workers, i've been covering them lately, why don't they seem to be your top priority? >> our top priority is growing the economy and creating more jobs. w
May 1, 2013 9:00am PDT
presentation. i want to say i appreciate our framing in terms of the cities overall deficit and how you over the past 5 years cut 25.5 million over the last 5 years and also how you inced
Search Results 0 to 49 of about 274 (some duplicates have been removed)